January, 2023

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The Valuation Profession in 2023

IVSC

Nick Talbot Chief Executive, IVSC ” As the global economy continues to evolve, the demand for high-quality valuations will only increase, making it an exciting time to be a valuer. Those who are able to adapt to the trends and challenges of the profession will be well-positioned to succeed in the years ahead. The valuation profession is constantly evolving, with new trends and developments emerging all the time.

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The CEO’s ESG dilemma

Harvard Corporate Governance

Posted by Peter Gassmann and Will Jackson-Moore, PricewaterhouseCoopers LLP, on Monday, January 23, 2023 Editor's Note: Peter Gassmann is a Global Leader of Strategy and Will Jackson-Moore is a Global ESG Leader at PricewaterhouseCoopers LLP. This post is based on their PwC memorandum. Related research from the Program on Corporate Governance includes The Illusory Promise of Stakeholder Governance (discussed on the Forum here ) and Will Corporations Deliver to All Stakeholders?

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The metaverse: Driving value in the mobility sector

Mckinsey and Company

Although a fully immersive, interconnected metaverse remains years away, mobility stakeholders can already capture real business value from the technologies designed to enable it.

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Shiba Inu Edges Out Litecoin As 13th Biggest Crypto With 19% Surge

Benzinga

Shiba Inu (CRYPTO: SHIB ) surpassed Litecoin (CRYPTO: LTC ) to become the thirteenth largest cryptocurrency by market capitalization early on Wednesday. What Happened: At the time of writing, SHIB’s market cap stood at $6.9 billion, while Litecoin’s market cap was at $6.3 billion. Shiba Inu saw a spike in its price after short bets worth nearly $790,000 were liquidated.

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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Is Finance a Good Career Path? The 2023 Update

Brian DeChesare

If you want to stimulate the urge to poke out your eyes and jump into a pool of lava, try searching for “Is Finance a Good Career Path?” or asking ChatGPT about it. Most articles present generic details everyone already knows, such as “finance jobs pay higher salaries, on average.”. The missing point is that a “good career path” implies something about the industry’s prospects over the next 10-20 years.

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Appraiser Countersuing Black Homeowners for Defamation

Appraisers Blog

The Maryland appraiser has filed a countersuit against the homeowners, claiming defamation. Appraisers, there have been several lawsuits filed against appraisers by borrowers who “don’t like your value, so I’m accusing you of discrimination” over the last year or so. These lawsuits all have the same theme, and it’s entirely possible that these actions are being coordinated by a consortium of ‘organizers’ and law firms.

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Get boardroom ready: five ways to improve executive interactions with the board

Harvard Corporate Governance

Posted by Maria Castañón Moats, Paul DeNicola, Catie Hall, PricewaterhouseCoopers LLP, on Saturday, January 21, 2023 Editor's Note: Maria Castañón Moats is Leader, Paul DeNicola is a Principal, and Catie Hall is a Director at the Governance Insights Center at PricewaterhouseCoopers LLP. This post is based on their PwC memorandum. Why? Whether you are an executive who has been meeting with the board regularly for years or you are in a new role that’s landing you on the agenda, these brief inter

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From tailwinds to crosscurrents: Resilient growth in wealth management

Mckinsey and Company

A decade of favorable macroeconomic conditions and relatively easy growth has ended, signaling a new urgency for US wealth managers to rethink operating models and reenergize growth.

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Wait, Is Bill Gates Working On ChatGPT With Microsoft?

Benzinga

Reports surfaced Tuesday that Microsoft Corp (NASDAQ: MSFT ) was reportedly negotiating a $10 billion investment in OpenAI — the owner of ChatGPT, a large language chatbot that has turned the tech world on its heels in recent weeks. The deal has Microsoft taking a 49% stake in the company after it absorbs 75% of OpenAI’s profits until the Bill Gates -founded company recoups its investment.

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Will ChatGPT and AI Kill the Investment Banking Industry and Other “Knowledge Worker” Jobs?

Brian DeChesare

Unless you’ve been hiding under a rock, you probably noticed the excitement, hype, and borderline panic when ChatGPT from OpenAI was released in November 2022. If you haven’t yet created an account or tried it, you should – because it is quite impressive. You can ask the tool almost any question, and it will generate text or computer code in response (with some restrictions).

Banking 111
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Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

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Trendspotting: Top Ten Payroll Issues of State Legislatures

ThomsonReuters

States eye workforce as a legislative priority for payroll The majority of state legislatures began their legislative sessions this January. A flurry of bills is being proposed in the payroll space — many having to do labor and employment. This came as no surprise to Tim Storey, CEO of the National Conference of State Legislators (NCSL). During an early-December 2022 NCSL Forecast 2023 meeting he explained the challenge to employ workers has been echoed by legislators nationwide.

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5 Steps to Peak Performance in Business

Rhythm Systems

Peak performance refers to the highest level of performance that an individual or organization can achieve in a particular task or activity. It is the point at which a person or group is operating at their best, utilizing its full range of abilities and resources to achieve optimal results.

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The board’s role: building trust in a multi-stakeholder world

Harvard Corporate Governance

Posted by Maria Castañón Moats, Paul DeNicola, and Matt DiGuiseppe, PricewaterhouseCoopers LLP, on Tuesday, January 3, 2023 Editor's Note: Maria Castañón Moats is Leader, Paul DeNicola is Principal, and Matt DiGuiseppe is Managing Director at the Governance Insights Center at PricewaterhouseCoopers LLP. This post is based on their PwC memorandum.

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What is generative AI?

Mckinsey and Company

Generative artificial intelligence (AI) describes algorithms (such as ChatGPT) that can be used to create new content, including audio, code, images, text, simulations, and videos. Recent new breakthroughs in the field have the potential to drastically change the way we approach content creation.

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Mastering Intent Data: Understanding its Importance & Best Practices

Speaker: Joe Apfelbaum, CEO of Ajax Union

In this webinar, Joe Apfelbaum, CEO of Ajax Union and business strategist, will take you through the ABCs of intent data. You'll learn how to effectively use it to drive business results, with practical tips on how to leverage both company and contact intent data to maximize your marketing efforts. Whether you're a seasoned marketer or just getting started, this webinar is a must-attend for anyone looking to stay ahead in the ever-evolving world of digital marketing.

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Cryptocurrency Market Size Worth USD 1902.5 Million by 2028 | Report by Fortune Business Insights

Benzinga

Pune, India, Jan. 18, 2023 (GLOBE NEWSWIRE) -- The global cryptocurrency market size was valued at USD 826.6 million in 2020. It is projected to rise from USD 910.3 Million in 2021 to USD 1902.5 Million by 2028 at a CAGR of 11.1% during the forecast period. Fortune Business Insights™ has published these insights in its latest research report titled, "Cryptocurrency Market Forecast, 2023-2028.".

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United Talent Agency Grows Its Literary Business

NYT M&A

With the acquisition of the literary agency Fletcher & Company, UTA added hundreds of authors to its client roster. The deal comes amid consolidation in the entertainment industry.

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IRS Announces 2023 Standard Mileage Rates and Vehicle Value Limitations

ThomsonReuters

IRS Notice 2023-03 (Dec. 29, 2022); IRS News Release IR-2022-234 (Dec. 29, 2022). Notice. News Release. The IRS has announced the optional 2023 standard mileage rates for business, medical, and other uses of an automobile, and the 2023 vehicle values that limit the application of certain rules for valuing an automobile’s use. For 2023, the business standard mileage rate is 65.5 cents per mile (a 3-cent increase from the 62.5-cent rate that applied during the second half of 2022—see our Checkpoin

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Right Lane Industries Announces Agreement to Acquire the Rear Discharge Mixer Businesses of McNeilus and London Machinery Inc. from Oshkosh Corporation

Business Wire M&A

DODGE CENTER, Minn. & LONDON, Ontario--(BUSINESS WIRE)--Right Lane Industries (“Right Lane”) announced today that it has entered into a purchase agreement to acquire London Machinery, Inc. and the Rear Discharge Mixer business of McNeilus Truck and Manufacturing, Inc. (collectively, “RDM” or the “Business”) from Oshkosh Corporation.

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Activating Sustainability in the Boardroom

Harvard Corporate Governance

Posted by Laura Sanderson, Sarah Galloway, Russell Reynolds Associates, on Wednesday, January 4, 2023 Editor's Note: Laura Sanderson co-leads the Board and CEO Advisory Partners in Europe and Sarah Galloway is co-head of the Global Sustainability Practice at Russell Reynolds Associates. This post is based on a Russell Reynolds Associates memorandum by Ms.

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One billion days lost: How COVID-19 is hurting the US workforce

Mckinsey and Company

COVID-19 may no longer be a pandemic, but the disease likely reduced the availability of the US workforce by as much as 2.6 percent in 2022—a burden on productivity that could last for years.

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World Wrestling Entertainment Reviews Potential Sale, Return Of Former Chief Vince McMahon; Stock Soars

Benzinga

World Wrestling Entertainment, Inc (NYSE: WWE ) shares are gaining in the after-hours session on the news report that the company could be exploring a potential sale. The Wall Street Journal reported that former chief Vince McMahon, who retired after allegations of sexual misconduct, plans to return to the company. In July 2022, McMahon, the renowned promoter, who helped establish the careers of top stars such as Dwayne "The Rock" Johnson and John Cena , confirmed that he would officia

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JPMorgan Paid $175 Million for a Business It Now Says Was a Scam

NYT M&A

Charlie Javice promised to simplify the college financial aid process. It was a compelling pitch. Especially, as now seems likely, to those with little firsthand knowledge of financial aid.

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IRS Announces 2023 Automobile Depreciation Deduction Limits and Inclusion Amounts

ThomsonReuters

Rev. Proc. 2023-14 (Jan. 18, 2023) Available at [link] The IRS has announced the 2023 inflation-adjusted Code § 280F “luxury automobile” limits on certain deductions that may be taken by taxpayers using passenger automobiles (including vans and trucks) in a trade or business. For purchased automobiles, the limits cap the taxpayer’s depreciation deduction.

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Trigon Confirms Acquisition of Copper King Extension at Kombat in Namibia

Business Wire M&A

TORONTO--(BUSINESS WIRE)-- #Morocco--Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to announce that it has entered into a definitive agreement (the “Agreement”) to expand its land holding in Namibia, through the acquisition of exclusive prospecting licence 8529 (“EPL 8529” or the “Licence”). The Licence surrounds Trigon’s Kombat and Gross Otavi projects in the Otavi Mountainland, a region associated with high grade copper and silver mineralization.

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2022 U.S. CEO Outlook

Harvard Corporate Governance

Posted by John Rodi, KPMG LLP, on Thursday, January 5, 2023 Editor's Note: John Rodi is the leader of the KPMG Board Leadership Center (BLC). This post is based on his KPMG memorandum. Overview. On the heels of the pandemic, CEOs are now facing another turbulent period. Our latest CEO Outlook is being released amid a business environment marred by high inflation, geopolitical tensions and fears of a recession.

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One billion days lost: How COVID-19 is hurting the US workforce

Mckinsey and Company

COVID-19 may no longer be a pandemic, but the disease likely reduced the availability of the US workforce by as much as 2.6 percent in 2022—a burden on productivity that could last for years.

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Tesco buys Paperchase brand but not shops, with 800 jobs at risk

The Guardian M&A

Stationery retailer collapses into administration after rising costs and disappointing sales Tesco has bought the brand and intellectual property of Paperchase, after the struggling stationery retailer collapsed into administration. However, the deal does not include Tesco taking on the brand’s 106 stores across the UK and Ireland, leaving the future uncertain for Paperchase’s 820 employees.

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Employee Engagement in 2023: 6 Ways to Keep Employees Engaged

Rhythm Systems

Financial rewards are just the beginning of what keeps employees active in their job role. Another, more overlooked factor, is job satisfaction. Just like you want to be a part of the company and commit to the success of it, so too do the workers. But, you are also the main character in the story who can either band these individuals together or break them apart through engagement or lack thereof.

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On the Frontlines: The Hard Lessons of FTX

Audit Board

The stunning collapse of cryptocurrency exchange FTX is shaping up to rival the most iconic corporate scandals in history. When news broke of its bankruptcy filing and the missing billions of dollars, it wasn’t hard to spot the troubling similarities with the WorldCom, Enron, and Madoff scandals. Those were seismic events with earth-shaking implications.

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Agency Report Showing High Demand for Surprise Billing IDR Provides Data by State, CPT Code

ThomsonReuters

Initial Report on the Independent Dispute Resolution (IDR) Process April 15 – September 30, 2022 (Dec. 15, 2022) Available at [link] The DOL, HHS, and IRS have jointly issued a report with usage data on the surprise billing independent dispute resolution (IDR) process created when the Consolidated Appropriations Act, 2021 (CAA, 2021) expanded patient protections to shield individuals from surprise bills for certain out-of-network emergency and non-emergency services.

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2022 U.S. Shareholder Activism and Activist Settlement Agreements

Harvard Corporate Governance

Posted by Melissa Sawyer, Lauren Boehmke and Susan Lindsay, Sullivan & Cromwell LLP, on Thursday, January 5, 2023 Editor's Note: Melissa Sawyer , Lauren Boehmke are partners and Susan M. Lindsay is counsel at Sullivan & Cromwell LLP. This post is based on a Sullivan & Cromwell memorandum by Ms. Sawyer, Ms. Boehmke, Ms. Lindsay, Rodge Cohen , and Marc Treviño.

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The health benefits and business potential of digital therapeutics

Mckinsey and Company

Digital-native start-ups and healthcare incumbents can both play important roles in building and scaling digital therapeutics to improve the management of chronic health conditions.

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House Measurement by Property Data Collector Gone Wrong

Appraisers Blog

The lender allowed an unlicensed property data collector give bad data to the appraiser… I work for this lender and they will not let my trainee inspect. The owners are now underwater by more than $100,000… I’m sad and I’m mad! I recently took on a measure job for a client who was questioning the square footage of their home. The couple bought the house at the height of the market last year.

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Rupert Murdoch calls off proposed Fox-News Corp merger

The Guardian M&A

Billionaire mogul says in letter that proposal to reunite companies he split up a decade ago ‘not optimal’ for shareholders Fox Corp said on Tuesday that Rupert Murdoch had scrapped a proposal to combine the company with News Corp, in a deal that would have reunited the media empire he split nearly a decade ago. Murdoch sent a letter to News Corp and Fox withdrawing his proposal to reunite the companies, according to a regulatory filing.

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